Hilco Real Estate, LLC announces September 25, 2020 as the managed bid deadline for a prime 2.23-acre mixed-use development site along I-5 in Stockton, California. This offering is truly a rare opportunity provided its location and favorable mixed-use (MX) zoning, which allows a variety of commercial uses.
Located in the city of Stockton, this site is prominently located along the highly trafficked Interstate 5, boasting an average daily traffic (ADT) count of approximately 82,000 vehicles and providing great visibility and perfect customer access with the nearby highway exit. The property has already had substantial site work completed including parking, grading and utilities stubbed to the location. It benefits from being located directly next to Lowe’s Home Improvement, Trinity Urgent Care, other major retailers and significant residential developments only steps away.
Stockton is the county seat of San Joaquin County, a growing county of more than 752,000 people with much to offer Californians. The city’s population is just over 311,000 people, accounting for over 40% of the county’s total population, according to Data USA. San Joaquin County’s median household income is above $116,000, which is more than the national median household income of almost $62,000, indicating this area is a strong retail market. Stockton is easily accessible via Interstate 5 and State Route 99, inland California's major north-south highways. Additionally, this city is conveniently located only an hour and thirty minutes east of San Francisco, under an hour and thirty minutes northeast of San Jose, and fifty minutes south of California’s state capitol, Sacramento.
Mark Carbone, senior managing director at Hilco Real Estate, stated, “Frankly, this is a great property. This market has a great combination of low vacancy and strong growth. Not only is it in a highly visible and very well-trafficked location, the property also benefits from being zoned as mixed-use. This allows for an assortment of uses other than retail, such as a clinic or laboratory, childcare center, hotel or restaurant to name a few possibilities. This offering will make an appealing opportunity to quite a few owner-users, retailers and/or fit nicely into an investor’s portfolio.”
The bid deadline is scheduled for Friday, September 25, 2020. Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. Interested buyers should review the detailed sale terms for requirements in order to participate in the sale process available on Hilco’s website. Bids may be submitted via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 410, Northbrook, IL 60062, or via email to jcuticelli@hilcoglobal.com.
For further information on the property, an explanation of the sale process, sale terms or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.